USPS awards omni-channel payment solutions contract to Vantiv

The United States Postal Service (USPS) has selected Vantiv Inc. to provide a full suite of omni-channel payment solutions. Vantiv said that its processing services will support the efficiency, scale and functionality required for the large volume of retail visits to Postal Service locations nationwide as well as those to usps.com.

“With the rapid evolution taking place in payments, there is a need in the marketplace for highly flexible, scalable and easily integrated solutions that can meet the dynamic demands of a large retail customer base,” said Royal Cole, group president of merchant and financial institution services at Vantiv.

The agreement includes Vantiv’s risk and data security solutions designed to help protect customers’ sensitive data and deter the use of fraudulent credit cards. Vantiv’s encryption and tokenization technology helps protect customer data at the point of entry as well as data held for use in reconciliation, chargeback processing and other functions such as recurring payments.

Vantiv’s ecommerce PayPage and OmniToken solutions replace cardholder data with tokens that can be used in place of payment data.